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VESTAL, N.Y. — The Koffman Southern Tier Incubator at Binghamton University has expanded with the addition of a new facility in Vestal, which it calls Koffman on Plaza.

The Koffman Incubator provides key resources and programs to aspiring entrepreneurs and growing startup companies. The Koffman Southern Tier Incubator, which is located at 120 Hawley Street in Binghamton, opened in 2017.

The new Vestal facility, which formally opened Tuesday, is an extension of the incubator, providing advanced-stage startups with a “professional environment that mirrors the c-suite experience,” Binghamton University said. The facility offers office spaces and continued mentorship from experienced professionals within Koffman’s extensive network.

“We are thrilled to celebrate the opening of Koffman on Plaza, a testament to the Koffman family’s enduring commitment to fostering entrepreneurship and innovation in the Southern Tier,” Bandhana Katoch, executive director of the Koffman Southern Tier Incubator, said in the school’s announcement. “The addition of Koffman on Plaza not only expands our resources but also invigorates our mission to support and grow innovative startups. We are deeply grateful to the Koffman family for their generous support and dedication to our community’s entrepreneurial ecosystem.”

The building at 300 Plaza Drive, which the Koffman family donated, was built in 1967 and previously served as the headquarters for multiple Koffman family businesses.

This two-floor facility offers seven office spaces for startups on the first floor, with large and small options available.

Three offices are currently occupied by startups advancing in the entrepreneurial process. Rent prices start at $825. The lower floor houses existing tenant Smith Brothers Insurance, Binghamton University said.

“As the family discussed what to do with the building, it became clear that we should donate the office to Binghamton University to keep in the spirit of the Koffman Southern Tier Incubator,” Betsy Koffman said in the announcement. “The energy and spirit of entrepreneurs brainstorming and working to create and grow their businesses, people helping each other out and the beautiful space igniting creative ideas, keeps in the spirit of my dad and the rest of the family. My dad would be happy knowing the building has new energy and youth on its side.”

Verona Collective set to open flagship dispensary

Energy, Environment & Sustainability, Mohawk Valley, New York News, Sports, Entertainment & Tourism

VERONA, N.Y. — The Oneida Indian Nation’s Verona Collective cannabis enterprise will open its newest dispensary at 5528 NY-31 in the Verona Crossroads retail plaza

Former CFO starts as president of Human Technologies and will become CEO at end of year

Nonprofits, Employee Benefits & Human Resources, Mohawk Valley, New York News, Subscriber Only

UTICA, N.Y. — Human Technologies (HT), a Utica–based a social enterprise employing people with disabilities, has a new president who will also become its new CEO to start 2025, the organization announced. HT’s board of directors approved the promotion of Carl Reistrom from chief financial officer to the role of president, effective June 1. Tim

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HT’s board of directors approved the promotion of Carl Reistrom from chief financial officer to the role of president, effective June 1. Tim Giarrusso will remain as HT’s CEO until his retirement on Dec. 31, 2024, with Reistrom assuming the CEO role then.

“I am profoundly grateful for the opportunity to succeed Tim Giarrusso as the next president/CEO,” Reistrom said in a Tuesday news release. “I am committed to building on the strong foundation that is in place, ensuring we continue to make a positive impact on the lives of our employees and in our communities. As an organization, we look forward to new and innovative growth opportunities that will support our mission of finding the abilities within people.”

Reistrom, who served as CFO since 2016, has more than 25 years of progressive management and leadership experience in various industries within both for-profit and not-for-profit sectors. According to the release, his record in developing and executing strategic plans, building effective teams, and collaborating with all levels within an organization will serve him well in his new role, along with his potential to identify growth opportunities and adeptness at leveraging resources.

“Carl’s strategic insight and commitment to our mission make him the ideal person to lead Human Technologies into the future,” Giarrusso said. “I am confident that the organization will continue to thrive and expand its impact under his leadership.”

Headquartered at 2201 Dwyer Ave. in Utica, Human Technologies creates employment for people with disabilities by developing, investing in, and growing its business lines. They include supply chain and order fulfillment, uniform and apparel management, environmental services, facilities management, and manufacturing and packaging. Human Technologies employs 330 people across locations in New York, Pennsylvania, and northern Virgnia and generates more than $40 million in annual revenue.

Charles Schumer at ESF on mesonet funding

Schumer wants more federal funding to improve storm-tracking network

Energy, Environment & Sustainability, Education & Training, Featured, Law, Accounting & Taxes, Technology

SYRACUSE, N.Y. — U.S. Senate Majority Leader Charles Schumer (D–N.Y.) on Monday said he wants to secure $30 million for the nation’s network of weather-monitoring

Wynn Hospital receives cardiac reaccreditation

Health Care, Employee Benefits & Human Resources, Nonprofits, Subscriber Only

UTICA, N.Y. — Wynn Hospital of the Mohawk Valley Health System (MVHS) recently received reaccreditation as a HeartCARE Center: National Distinction of Excellence from the American College of Cardiology (ACC), MVHS announced in a press release. Accreditation is based on on-site evaluation of the staff’s ability to safely and effectively evaluate, diagnose, and treat patients

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Accreditation is based on on-site evaluation of the staff’s ability to safely and effectively evaluate, diagnose, and treat patients as well as participation in ongoing quality improvement initiatives and numerous cardiac-registry programs.

“We are so very proud of our entire cardiac team for once again achieving this status,” Darlene Stromstad, president and CEO of MVHS, said in the release. “Being designated a HeartCARE Center provides national recognition of what we all know and appreciate — that our cardiac services provide exceptional care.”

The recognition is the highest one hospitals can receive from the American College of Cardiology. Wynn Hospital achieved this distinction based on meeting specific criteria, on-site reviews, and proven quality standards.

Established in 2018, the designation is awarded to hospitals that demonstrate excellence in cardiovascular care through comprehensive process improvement, disease and procedure-specific accreditation, professional excellence, and community engagement.

“It is an honor for our program to achieve this redesignation,” Michael Sassower, medical director of the structural heart disease program at MVHS, said in the announcement. “It is a continuation of years of effort put forward by our team of doctors, nurses, technologists, and support staff who have the shared vision of creating a cardiac center that is second to none.”

In addition to the HeartCARE Center designation, MVHS also achieved ACC accreditation in its electrophysiology study.

“MVHS has demonstrated its commitment to providing the Mohawk Valley with excellent heart care,” Deepak Bhatt, chair of the ACC accreditation-management board, said. “ACC Accreditation Services is proud to award MVHS with the HeartCARE Center designation.”

Earlier this year, Wynn Hospital paused open-heart surgeries amid concerns from hospital leadership and the New York State Department of Health. MVHS is currently working with an outside organization to resolve the matter.

MVHS serves Oneida, Herkimer, and Madison counties with its integrated delivery system of health care. The organization employes more than 4,200 full-time equivalent employees.

Downtown Syracuse Foundation seeking grant applicants for Syracuse Cultural Festivals Fund

Nonprofits, Energy, Environment & Sustainability, Small Business, Sports, Entertainment & Tourism, Subscriber Only

SYRACUSE, N.Y. — The Syracuse Cultural Festivals Fund has $140,000 available for nonprofits that would like to apply for funding. The City of Syracuse established the fund “in recognition that festivals and event programming contribute to a vibrant community,” per Monday’s announcement. The money is intended to support nonprofit community groups organizing and delivering celebratory

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Ithaca incubator accepting applications for protofacturing accelerator

Manufacturing & Engineering, Education & Training, Employee Benefits & Human Resources, Featured, New York News, Southern Tier, Subscriber Only, Technology

ITHACA, N.Y. — Applications are open for Rev: Ithaca Startup Works business incubator’s new Protofacturing Hardware Accelerator program that connects existing prototyping and manufacturing hardware accelerators and helps entrepreneurs refine their prototypes. “We’re bridging the gap between prototyping and manufacturing to help entrepreneurs get a design freeze; then they can confidently advance to manufacturing at

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“We’re bridging the gap between prototyping and manufacturing to help entrepreneurs get a design freeze; then they can confidently advance to manufacturing at volume,” Deanna Kocher, Rev’s associate director of hardware programs, said in the announcement.

Applications are due by August 2 and are available online. The web address is https://www.revithaca.com/protofacturing-hardware-accelerator/.

The Protofacturing Hardware Accelerator supports physical product startups that have developed a proof-of-concept prototype and are preparing for initial manufacturing runs. Throughout the program, participants will refine their initial prototypes to create engineering prototypes while continuing to engage in customer discovery and securing funding for upfront manufacturing costs.

Administered by Cornell University’s Center for Regional Economic Advancement (CREA) with support from Cornell Engineering, Rev’s hardware accelerators help entrepreneurs in launching and growing startups that offer physical products. Each program offers four curriculum tracks — industry-agnostic open, agriculture technology, climate technology, and medical technology.

“The prototyping hardware accelerator experience has equipped me with a customer-centric mindset, enhanced prototyping capabilities, and a nuanced approach to design considerations,” Hannah James, founder of Virtual Fencing, said in the Rev announcement. “These preparatory aspects are invaluable as I transition into the protofacturing phase, where the focus is on scaling production while maintaining high standards of product quality and market relevance.”

The program is funded through a $2 million Build to Scale grant from the U.S. Economic Development Administration with a local matching fund of $2 million, including $1 million from Empire State Development’s Division of Science, Technology, and Innovation (NYSTAR).

The program curriculum and support are delivered virtually, and participants do not need to be in Ithaca to participate.

Rev: Ithaca Startup Works is a business incubator and startup workspace in Ithaca that offers business mentorship, training, and startup resources for any new or growing business that plans to scale and create jobs in the region. It was founded in 2014 through a partnership between Cornell University, Ithaca College, and Tompkins Cortland Community College.

Construction resumes targeting repairs along Oswego Harbor breakwater

Construction, Design & Real Estate, Energy, Environment & Sustainability, Manufacturing & Engineering, Sports, Entertainment & Tourism, Subscriber Only

OSWEGO, N.Y. — Construction has resumed on a project to repair the Oswego Harbor west arrowhead breakwater. The Buffalo district of the U.S. Army Corps of Engineers (USACE) and its contractor, Great Lakes Dock & Materials LLC of Michigan, are handling the job, per the USACE announcement. Repairs to the west arrowhead breakwater “ensure Oswego

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OSWEGO, N.Y. — Construction has resumed on a project to repair the Oswego Harbor west arrowhead breakwater.

The Buffalo district of the U.S. Army Corps of Engineers (USACE) and its contractor, Great Lakes Dock & Materials LLC of Michigan, are handling the job, per the USACE announcement.

Repairs to the west arrowhead breakwater “ensure Oswego Harbor’s viability and contributions” to the local and national economy and “protect the future of some of the area’s best waterfront historical, educational, and recreation opportunities,” USACE said.

The $9 million project is 100 percent federally funded, it noted.

Construction between mid-July and October is focusing on the remaining lighthouse foundation and lakeside and middle portions of the breakwater.

“Oswego Harbor is a critical component of the Great Lakes Navigation System, supporting economic growth and strategic value to the nation,” Lt. Col. Robert Burnham, commander of the USACE Buffalo district, said in the announcement. “We look forward to delivering this project on time and within budget, ensuring Oswego’s waterfront continues serving the local community and the country.”

Work is being conducted by marine barges. Commercial and recreational marine traffic will not be obstructed, but vessels “should exercise caution” when navigating near the breakwater, USACE said.

“This $9 million federal boost will fund critical repairs to the West Arrowhead Breakwater, ensuring the port in Oswego Harbor is protected and operating at full capacity,” U.S. Senate Majority Leader Charles Schumer (D–N.Y.) said in the USACE announcement. “Now, the Oswego breakwater can dive into construction this summer, leading to more jobs and better service throughout the harbor’s transportation ecosystem. I am proud to have delivered this federal funding to enhance Oswego Harbor and keep its economic engine strong for generations to come.”

USACE previously completed repairs to 1,100 feet of the west arrowhead breakwater’s lake side in 2018 and 2019, and the lighthouse foundation in 2023. Those portions will not require additional repairs during the current project.

Crews are conducting repairs to the remainder of the west arrowhead breakwater under a separate contract, with work continuing through summer 2025. Repairs to Oswego’s outer west breakwater are planned for 2025, USACE said.

“Oswego Harbor is the largest commercial harbor in New York state on Lake Ontario and has four operating businesses including the Port of Oswego Authority. This project is an investment in business and job growth in Central New York, including local farmers who depend on the port as their connection to internal export markets,” William Scriber, executive director and CEO of the Port of Oswego Authority, said in the USACE announcement.

NBT net income rises in Q2 but EPS dips

Banks & Credit Unions, Construction, Design & Real Estate, Employee Benefits & Human Resources, Southern Tier, Subscriber Only

NORWICH, N.Y. — NBT Bancorp, Inc. (NASDAQ: NBTB) recently reported a mixed earnings picture in the second quarter amid a continued tough interest-rate environment. NBT’s net income rose to $32.7 million in the latest quarter from $30.1 million in the year-ago period, but its earnings per share (EPS) inched down to 69 cents per share

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NORWICH, N.Y. — NBT Bancorp, Inc. (NASDAQ: NBTB) recently reported a mixed earnings picture in the second quarter amid a continued tough interest-rate environment.

NBT’s net income rose to $32.7 million in the latest quarter from $30.1 million in the year-ago period, but its earnings per share (EPS) inched down to 69 cents per share in this year’s second quarter from 70 cents in the second quarter of 2023.

“Our operating performance for the second quarter and first half of 2024 continues to reflect the strength of our balance sheet, our diversified business model, and the collaboration of our team,” Scott Kingsley, president and CEO of NBT Bancorp, said in a July 23 earnings report. “During the second quarter, we grew loans $166 million across our footprint and improved our net-interest margin incrementally. Noninterest income continued to be a core strength, making up 31 percent of total revenues for the second quarter.”

Noninterest income was $43.3 million for the quarter, an increase of $6.6 million from the second quarter of 2023. The increase comes from a $1.9 million jump in wealth-management fees and a $3.1 million rise in retirement plan-administration fees. That includes the impact of the July 1, 2023, acquisition of Retirement Direct, LLC, along with organic growth, and higher market levels.

Net interest income also increased, going up $8.1 million, or 9.1 percent, from the second quarter of 2023 to $97.2 million.

Noninterest expense increased during the quarter to $89.6 million, up from $78.8 million a year ago, primarily due to the impact of the mid-year 2023 acquisition of Salisbury Bancorp, along with merit pay increases and higher medical and other benefit costs.

Total loans on June 30, 2024, were $9.85 billion, up from $9.65 billion on March 31 and $9.65 billion on December 31, 2023.

Total deposits on June 30, 2024, were $11.27 billion, an increase of $302.5 million from the $10.97 billion reported on Dec. 31, 2023. The increase was due to higher consumer deposit balances and accounts along with the inflow of seasonal municipal deposits.

Headquartered in Norwich, NBT Bancorp, Inc. has $13.5 billion in assets and is the parent company of NBT Bank, N.A., which operates 154 branches in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut.

Other subsidiaries include EPIC Retirement Plan Services, a Rochester-based national benefits administration firm, and NBT Insurance Agency, LLC, a full-service insurance agency based in Norwich.

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